Why is Tokyo the only mega city where housing is affordable?

[tjscott0]

New construction changing supply & demand curve.

Austin’s rents have dropped 18% due to new construction.

Supply and Demand and Apartment Rents

The population of LA (18.5 m) is more than 7 times that of Austin (2.5m). Yet Austin is building double the number of apartments that Los Angles is. Result: [image] Meanwhile the WSJ reports another shocker, New York’s Airbnb Crackdown, in Force for Two Years, Hasn’t Improved Housing Supply. But guess what has happened? Ok, you don’t have to guess. Hotel prices have increased

I am surprised Austin real estate developers are building so many new apartments. An oversupply cuts revenue and profits.

Most major US cities keep new construction at levels that keep rents high.